GLUU - Glu Mobile pulls back after 35% gain as analysts ring the registers

Glu Mobile (GLUU -0.5%) is pulling back predictably after yesterday's 34.9% gain coming on the heels of news it will be acquired by Electronic Arts (EA -1%). The ramp up yesterday sent some analysts to the sidelines. Stifel Nicolaus downgraded shares to Hold from Buy, and reset its price target to the acquisition price: $12.50 a share. (That's a bit less than today's $12.60, amid some speculation that another bidder could/should step in to pick Glu up - and Reuters reported that Glu had several takeover approaches last year during stock underperformance.) And Cowen downgraded to Market Perform from Outperform while cutting its price target to $12.50 from $13.

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Glu Mobile pulls back after 35% gain, as analysts ring the registers